BLM Oil and Gas Sale Nets Over $8 Million
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The Bureau of Land Management (BLM) generated $8,950,305.50 for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction held Nov. 4, in Cheyenne. Almost half of the bid and rental receipts go to the State of Wyoming. Bids ranged from the federally mandated minimum of $2 per acre to a high bid of $1,030.00 per acre. Successful bidders also pay a $155 per parcel one-time administrative fee and a yearly rental of $1.50 per acre for the first five years of the lease and $2 per acre in years six through 10. The next BLM Wyoming oil and gas lease sale is scheduled for Tuesday, Feb. 3, 2015, in Cheyenne. November 4, 2014 BLM Wyoming Competitive Sale Results Summary Parcels Offered 89 Parcels Sold 88 % Parcels Sold 98.88% Acres Offered 114,142.280 Acres Sold 114,102.110 % Acres Sold 99.96% Average Bid/Acre For Parcels Offered For Acres Sold $76.79 $76.82 Average Bid/Parcel For Parcels Offered For Parcels Sold $98,488.45 $99,607.64 Highest Bid/Acre $1,030.00 Parcel with High Bid/Acre 50 Highest Bid/Parcel $1,630,980.00 Parcel with High Total Bid 85 Total Bonus Bid $8,765,472.00 Total Rental Due $171,193.50 Total Administrative Fees Due $13,640.00 Total Receipts Due $8,950,305.50
The BLM manages more than 245 million acres of public land located primarily in 12 western states, including Alaska, on behalf of the American people. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. Our mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations.